Knowing how to convert an offline invoice to an online invoice will provide numerous significant advantages in company operations. The efficiency, accuracy, and convenience of accessing and managing many invoice documents can all be worked at the same time.
What is an online invoice?
We may have come across stacks of paper invoices in business operations, such as sales and purchase invoices, rental invoices, and service invoices. Paper invoices have now given way to a more modern form in the shape of digital or online invoicing.
An online invoice is an invoice or bill that is created and sent via the internet. Like an offline invoice, the information recorded is quite detailed, starting with product information, service details, total paid, date period, company information, and payment method.
Switching invoices from offline to online has benefits, such as increased efficiency in managing company finances.
Benefits of converting an offline invoice to an online invoice
Here is a more detailed explanation of the five advantages if you know how to convert offline invoices to online.
1. Efficiency in operations
An online invoice can be received immediately and quickly without having to wait for physical delivery. This can improve payment workflow efficiency and allow for faster responses to financial bills.
2. Higher accuracy
The process of changing an invoice from offline to online tends to be more accurate than a manual process. Because errors such as writing or calculating errors can be reduced, it can help to avoid larger problems, particularly in terms of recording.
3. Invoices can be stored properly
An online invoice can be accessed from anywhere, at any time, as long as you are connected to the internet network. This makes it easy to access internal audit processes and other requirements. Also, digital storage reduces the requirement for physical space for archival storage.
4. Enhance data security
The online process may be extremely vulnerable to data privacy concerns. But don’t worry, the internet now has multiple encryption and authentication capabilities, so invoicing documents get extra protection.
5. A more professional appearance
Sending invoices online creates a more personable and modern image in business. This can help increase client and consumer trust in the company.
How to convert offline invoices to online invoice fast and easily
After knowing about the advantages of converting offline to online invoices, some of us may be wondering how this might be accomplished. Is the process complicated?
Don’t worry, there are now many advanced AI-based tools that can convert physical documents to digital, such as offline invoices, quickly. One of the most reliable apps is Fintelite’s OCR+.
Here are the steps for converting an offline invoice to an online invoice using OCR+ Fintelite.
1. Go to the Fintelite dashboard
To get started, create a new account to our dashboard using your username and password.
Following successful login, the page view will be switched to the main dashboard. This is where we will upload the document that needs to be changed.
2. Choose a document type
Fintelite can process 4 types of documents: bank e-statements, invoices, receipts, and purchase orders. Because we want to convert an offline invoice to an online invoice, select the ‘Invoice’ document and ‘Upload’ option.
3. Upload the invoice image to the dashboard
The next way to convert an offline invoice to an online invoice is by uploading an image of the invoice or physical document to the dashboard. The OCR+ dashboard is capable of converting up to 20 documents at once, with a maximum size of 5MB for each document.
4. The invoice will be automatically stored
Then we just have to wait for the AI process to finish reading the offline invoice data. When completed, the document will display on the dashboard’s homepage with the status ‘Pending’ and will be transformed into an online invoice.
This online invoice allows you to modify the text and data instantly by clicking the invoice ID and then selecting ‘Edit Label’
Get a free trial of Fintelite’s OCR+ feature to convert offline invoices to online invoices
That is a short description of how to convert an offline invoice to an online invoice which will be very useful for a company’s operational efficiency. To try it, go to the Fintelite OCR+ page and get a free trial opportunity.
Fintelite is an AI-based company that provides text recognition services using OCR technology. All financial records can be generated automatically through character recognition and transaction analysis.
